Why is water called 'universal solvent'?

Universal solvent - It is the substance that possesses the ability to dissolve all types of substances in it.

Water is called a universal solvent due to following reasons:

1. It can dissolve many solids, liquids and gases.
2. The majority of known chemicals and compounds are soluble in water.
3. Almost everything dissolves in water but depending upon the type of chemical it takes a different amount of time.

For example - salts of metals, sugar, gases like oxygen, nitrogen, and other liquids like alcohol dissolve in water easily.